The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-08-13

TO the carelessness of the directors regard
ing their work, as shown by the report
made tonight II certainly is pretty bad
showing for them that this could be going
on for six months or over, and they not be-
come cognizant of it," The
language was quite warm at
times, and Mr.. Miller was interrupted
frequently a number of the members taking
part and all speaking OF the general loose
ness that characterized the so-called exaIni-
nations. 1t was finally decided to leave the
matter in the hands of the directors it be-
ing understood that Kennedy gave up all
his property and assisted the investigating
committee i'm getting matters into shape
IL was decided to have a stockhold-
ers meeting at Metropolitan Hall, as soon
as the experts report was ready After
some further business the stockholders
meeting adjourned, meeting of the direc-
tors being held Immediately after.
WHAT KENNEDY SAYS.
Mr. Kennedy was seen early in the even
ing, but not having heard of the full
charges against him he had little
to say then, simply denying all the
allegations. After the meeting of the
stockholders he was visited again. He was
then in very excited condition and com
pletely Frustrated A physician had been
called in and Mr. Kennedy was lying on a
cane sofa with ice bandaged on his head.
He very pleasantly responded to the re-
| porters greeting, and asked what charges
! had been brought against him He was told
and it excited him greatly, so much 50
| as to interfere with a coherent
the several charges made, but his mind was
not in a condition to reply calmly or ration
! ally. He said he was the victim of mis-
| placed confidence and was not as black as
his enemies painted him. In regard TO the
| tifty-nine illegally issued shares he claimed
the Association "owedn for nineteen and he
for forty of them. When asked if he had
taken $4,000 of advance installments, he
exclaimed with strong emphasis, mo, not
a cent! swear to God l never got a cent
! of it,"
HE MAKES A CONFESSION.
Regarding his position, he finally admitted
| using" the money paid i'll for the extra
shares, and said, in extenuation, that a
former business associate had robbed him
outright and nearly ruined him. He had
to meet the paper, endorsed by his
honorably pay off these debts, he was led
into borrowing" from the associations
funds. He was "hard up" "but if things
had been kept quiet | would have come out
oil right said ne. He said he desired to
settle up and had already assigned a house
on Berricn street, valued at $500,
TO the association, Continuing, he
and his stock would fully settle up all
claims if he was treated fairly. Contra
dieting the statement that he had paid moth
ing on his shares, he said he mad paid sig, 900
and the books would show it. Further, re-
garding the condition of the books, he said
he only made an annual statement, and
there was no need Of posting the books till
then.
Mr. Kennedy was very much wrought up
over the matter, and his statement was not
As concise and clear as desired. He seems
TO think, in his present state of mind, that
he is a victim of misplaced friendship, and
inveighs harshly against several whom he
says are trying to down him." The bust
ness prominence of Mr.. Kennedy and the
nature of the case made it the talk of the
town last night
HIS FIRST FALSE STEP.
Mr. Kennedy is a native of this city, and
by close attention to business worked him
self up to a good position in business circles.
He has alwaS been regarded as the soul of
honor, and his life up to this time has been
most exemplary. He was exceedingly in
iustrious and energetic, but he has had
some unfortunate business connections,
which are supposed to be the indirect cause
of cramping him financially and which led
him TO the questionable means of
bridging over his shortage in funds by
abusing the trust reposed in him. Those
who know him best were loath to believe the
reports about him until it was officially
stated that he acknowledged that he had
made use of his position to give the receipts
of the Loan Association for money which he
put in his pocket. The amount of the deficit
is not yet positively ascertained, but APP
parently his friends figure it up in the
neighborhood of $4,000. His bondsmen
are J. H. Estill $1,000, w. B. Nell 81 500,
]. b. Howard g., 500
THE ASSOCIATIONS OFFICERS.
The Jasper Mutual Loan Association was
organized in 1882, with p w Meldrim,
Esq, President; d. r. Kennedy, Treasurer
and J. +. Wooten, ESQ, Secretary. Charles
| S. Wood is now Secretary. and the direc-
tors are j. $. Wood, j. G. Rowland,
| Herman Myers, George Turner, r. b. Rep
pard and Thos. Daniels. 1t is probable that
| the future business OF the association will
be conducted on strictly business principles,
and that the reports will all be made
promptly and fully.
The following notice was also ordered in
serted in this mornings paper:
| All stockholders in the Jasper Mutual Loan
| Association holding uncanceled stock are di-
rected to present their scrip to me at the office
! of j. :. Wood * Bro, a. Bay street, for regis
| tration. BY order of the Board of Directors.
| CHAS. S. WOOD, Treasurer.
Savannah, Ga, Aug 10, 1887.